It is said that blockchain is very popular now, but for many people on the Internet, there are still many people who don’t know what blockchain is. So how to understand blockchain, I believe many people don’t know.
Although the concept of “blockchain” is not new to the public, not many people really understand it. What is its relationship with us? Here I will explain the core content for you to help you better understand what blockchain is.
Let’s start with a few important points, such as decentralization, openness, irrevocability, non-tampering, encryption security, etc. mentioned below, which all play a very critical role in future life.
1. Decentralization
This is the core feature of the blockchain. There is no central institution or central server. All transactions occur in the client application installed on everyone’s own computer or mobile phone. It achieves point-to-point direct interaction, which not only saves resources, makes transactions autonomous and simplified, but also eliminates the risk of being controlled by centralized agents.
2. Openness
Blockchain can also be understood as a public accounting technology. The system will be completely open and transparent. The account books will be open to everyone, enabling shared data, and anyone can check the accounts.
3. Irrevocable, tamper-proof and encrypted security
The blockchain adopts a one-way hash algorithm, and each newly generated block is advanced in strict linear order. The irreversibility and irreversibility of time make any attempt to intrude and tamper with the data information in the blockchain easily vulnerable. Traceability leads to rejection by other nodes, and the cost of counterfeiting is extremely high, which can limit related illegal activities.
Blockchain may only be a concept to most of us ordinary people, but it is a trend in the future. The traceability of blockchain is expected to be used in various fields.
